27,000,000 Shares in Ally Financial Inc. $ALLY Acquired by Berkshire Hathaway Inc

Berkshire Hathaway Inc bought a new position in Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 27,000,000 shares of the financial services provider’s stock, valued at approximately $1,240,650,000. Ally Financial makes up approximately 0.4% of Berkshire Hathaway Inc’s investment portfolio, making the stock its 17th biggest holding. Berkshire Hathaway Inc owned about 8.88% of Ally Financial as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Freestone Grove Partners LP purchased a new position in shares of Ally Financial during the 2nd quarter valued at $54,461,000. Jupiter Topco LLC purchased a new stake in shares of Ally Financial in the second quarter worth $40,144,000. Hsbc Holdings PLC bought a new stake in Ally Financial during the second quarter valued at $3,405,000. PDT Partners LLC bought a new stake in Ally Financial during the second quarter valued at $2,060,000. Finally, Canada Pension Plan Investment Board purchased a new position in Ally Financial during the second quarter worth about $77,752,000. 88.76% of the stock is owned by institutional investors.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $58.00 target price on shares of Ally Financial in a research note on Wednesday, July 22nd. Citigroup cut their price objective on Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Wall Street Zen cut shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Truist Financial lowered their target price on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada lifted their target price on shares of Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Ally Financial presently has a consensus rating of “Moderate Buy” and an average target price of $53.64.

Ally Financial Trading Down 0.0%

Shares of ALLY stock opened at $42.58 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average price of $44.64 and a two-hundred day moving average price of $42.63. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29. The firm has a market cap of $12.95 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 0.26 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. Equities analysts anticipate that Ally Financial Inc. will post 5.19 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.30 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ally Financial’s payout ratio is presently 28.30%.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.